June 30th, 2010
Wednesday Trends in Credit Cards & Debt
Think your personal debt mountain is too high to climb? Ford Motor is $34 billion deep in debt, reports the Associated Press, but managed to repay nearly $4 billion through a company restructuring plan and comprehensive debt management. With additional debt reduction strategies, the Detroit automaker hopes to reduce its total debt to $27 million at the end of the first quarter. Think you can cut fifty dollars, or a few hundred, or even thousand dollars out of your own debt? Take a note out of Ford’s book – shoot for high but manageable goals and take sweeping, necessary steps to reach it.
Your fix of credit card news and debt reduction help is just ahead at today’s roundup!
Credit Card News
- Beyond credit card debt, from Get Rich Slowly, answers the question of what to do after you pay off your credit card debt.
- Breaking up with your issuer doesn’t have to be hard to do. Bargaineering reports How to cancel a credit card.
- High rates, more fees — credit card traps here to stay, reports CNN Money. Look out for hiking interest rates, slashed credit limits, and more.
- Who wants more money in the bank? PT Money shares The best cash back credit cards.
- MyBankTracker covers the pitfalls of the changing banking industry in the interesting post, Free Checking Accounts Could Become Victims of Financial Reform.
Debt News
- Need guidance on your path out of debt? Read Moolanomy Personal Finance’s 4 immediate and simple steps to personal debt reduction.
- MoneyCrashers shares a secret: The Only Skill You Need to Get Out of Debt. Aren’t you just itching to know? It could be your secret to get out of debt too.
- What we need is a great reset. We need to stop spending more than we earn, pay down our debt and then rebuild from there, writes The New York Times Bucks blog. Don’t miss out this insightful piece, The Great Debt Reset, about the state of our economy.
- WalletPop gives a rundown of the Dos and dont’s of settling on a debt resolution company.
- The Washington Post shares helpful questions on debt, and more debt.
Related posts:
- Wednesday Trends in Credit Cards & Debt Cardholders pay down debt by avoiding plastic, so credit card issuers are boosting rewards incentives to get consumers back to...
- Wednesday Trends in Credit Cards & Debt America is shopping again! Most retail sectors, including electronics, men’s clothing, and luxury items, gained in sales in February. Online...
- Wednesday Trends in Credit Cards & Debt Consumers won’t be the only ones protected by the sweeping Wall Street reform bill currently making its way through Congress....
- Wednesday Trends in Credit Cards & Debt A recent survey asked risk managers from U.S firms to gauge future consumer credit availability in the next three months....
- Wednesday Trends in Credit Cards & Debt This eye-opening chart compares overall credit card transactions and credit use across several countries: the U.S leads the pack with...
